| |
| |
|
|
|
|
GROUP |
|
COMPANY |
|
| |
|
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
| |
|
|
|
|
|
|
Restated |
|
|
|
Restated |
|
| |
|
|
|
|
Rm |
|
Rm |
|
Rm |
|
Rm |
|
22.
|
INTEREST-BEARING BORROWINGS
|
|
|
|
|
|
|
|
|
|
|
|
22.1
|
Long-term liabilities comprising:
|
|
|
|
|
|
|
|
|
|
|
|
|
Secured loans |
|
|
53,1 |
|
147,2 |
|
0,3 |
|
22,0 |
|
|
|
Unsecured loans |
|
|
69,3 |
|
40,2 |
|
– |
|
– |
|
|
|
|
|
|
122,4 |
|
187,4 |
|
0,3 |
|
22,0 |
|
|
|
Less: current portion |
|
|
(46,9) |
|
(111,2) |
|
(0,1) |
|
(22,0) |
|
|
|
Non-current portion |
|
|
75,5 |
|
76,2 |
|
0,2 |
|
– |
|
|
22.2
|
Secured loans comprising:
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance leases |
|
|
5,9 |
|
4,5 |
|
0,3 |
|
– |
|
|
|
Secured over: |
|
|
|
|
|
|
|
|
|
|
|
|
Plant and machinery with a book value of |
|
|
3,0 |
|
3,7 |
|
– |
|
– |
|
|
|
Other assets with a book value of |
|
|
3,8 |
|
0,7 |
|
0,3 |
|
– |
|
|
|
Interest rate (%) |
|
|
8,25 – 10,5 |
|
9,5 – 11 |
|
8,7 |
|
– |
|
|
|
Repayable in monthly instalments of |
|
|
0,2 |
|
0,1 |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
2010 |
|
2006 |
|
2007 |
|
– |
|
|
|
Instalment sale agreements |
|
|
47,2 |
|
14,7 |
|
– |
|
– |
|
|
|
Secured over: |
|
|
|
|
|
|
|
|
|
|
|
|
Plant and machinery with a book value of |
|
|
50,1 |
|
15,9 |
|
– |
|
– |
|
|
|
Other assets with a book value of |
|
|
– |
|
0,2 |
|
– |
|
– |
|
|
|
Interest rate (%) |
|
|
8 – 9,5 |
|
3 – 9,5 |
|
– |
|
– |
|
|
|
Repayable in monthly instalments of |
|
|
1,6 |
|
0,1 |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
2010 |
|
2008 |
|
– |
|
– |
|
|
|
Repayable in annual instalments of |
|
|
– |
|
3,4 |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
– |
|
2009 |
|
– |
|
– |
|
| |
| |
|
|
|
|
GROUP |
|
COMPANY |
|
| |
|
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
| |
|
|
|
|
Rm |
|
Rm |
|
Rm |
|
Rm |
|
| |
|
Suretyship has been provided by KAP International |
|
|
|
|
|
|
|
|
|
|
|
|
Holdings Limited in favour of ABSA Bank Limited for |
|
|
|
|
|
|
|
|
|
|
|
|
the asset finance facility of R40 million |
|
|
|
|
|
|
|
|
|
|
|
|
provided to Feltex Holdings (Pty) Limited. |
|
|
|
|
|
|
|
|
|
|
|
|
Loans from shareholder |
|
|
– |
|
60,7 |
|
– |
|
22,0 |
|
|
|
Daun & Cie AG |
|
|
|
|
|
|
|
|
|
|
|
|
Bearing interest at 10,75% |
|
|
– |
|
22,0 |
|
– |
|
22,0 |
|
|
|
Bearing interest at 9% per annum |
|
|
– |
|
38,7 |
|
– |
|
– |
|
|
|
There were no fixed terms of repayment. |
|
|
|
|
|
|
|
|
|
|
|
|
Other loans |
|
|
– |
|
67,3 |
|
– |
|
– |
|
|
|
Secured over: |
|
|
|
|
|
|
|
|
|
|
|
|
Land and buildings with a book value of |
|
|
– |
|
28,2 |
|
– |
|
– |
|
|
|
Plant and machinery with a book value of |
|
|
– |
|
73,4 |
|
– |
|
– |
|
|
|
Other assets with a book value of |
|
|
– |
|
8,5 |
|
– |
|
– |
|
|
|
Interest rate (%) |
|
|
– |
|
9 |
|
– |
|
– |
|
|
|
Repayment in quarterly instalments of |
|
|
– |
|
4,9 |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
– |
|
2008 |
|
– |
|
– |
|
|
|
Total secured loans |
|
|
53,1 |
|
147,2 |
|
0,3 |
|
22,0 |
|
|
22.3
|
Unsecured loans comprising:
|
|
|
|
|
|
|
|
|
|
|
|
|
Other loans |
|
|
62,8 |
|
32,8 |
|
– |
|
– |
|
|
|
Interest rate (%) |
|
|
5,129 – 8,25 |
|
5,112 – 11,5 |
|
– |
|
– |
|
|
|
Repayment in six-monthly instalments of |
|
|
3,8 |
|
4,0 |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
2007 |
|
2006 |
|
– |
|
– |
|
|
|
Repayment in annual instalments of |
|
|
– |
|
3,0 |
|
– |
|
– |
|
|
|
Repayment in quarterly instalments of |
|
|
5,0 |
|
– |
|
– |
|
– |
|
|
|
Last payment (year) |
|
|
2008 |
|
2008 |
|
– |
|
– |
|
|
|
Loans from related parties |
|
|
6,5 |
|
7,4 |
|
– |
|
– |
|
|
|
Conrapp Properties (Pty) Limited |
|
|
|
|
|
|
|
|
|
|
|
|
2004 at 9% per annum |
|
|
– |
|
7,4 |
|
– |
|
– |
|
|
|
There were no fixed terms of repayment. |
|
|
|
|
|
|
|
|
|
|
|
|
F S Fehrer GmbH |
|
|
6,5 |
|
– |
|
– |
|
– |
|
|
|
At 8,5% (2004: Nil) |
|
|
|
|
|
|
|
|
|
|
|
|
There are no fixed terms of repayment. |
|
|
|
|
|
|
|
|
|
|
|
|
Total unsecured loans |
|
|
69,3 |
|
40,2 |
|
– |
|
– |
|
|
22.4
|
Reconciliation between the total minimum lease payments and the present value of finance leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minimum lease payments reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
Up to one year |
|
|
2,3 |
|
1,4 |
|
0,1 |
|
– |
|
|
|
Two to five years |
|
|
4,4 |
|
4,0 |
|
0,2 |
|
– |
|
|
|
More than five years |
|
|
– |
|
– |
|
– |
|
– |
|
|
|
Total minimum lease payments |
|
|
6,7 |
|
5,4 |
|
0,3 |
|
– |
|
|
|
Future finance charges |
|
|
(0,8) |
|
(0,9) |
|
– |
|
– |
|
|
|
Present value |
|
|
5,9 |
|
4,5 |
|
0,3 |
|
– |
|
|
|
Analysed as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
Up to one year |
|
|
1,7 |
|
1,1 |
|
0,1 |
|
– |
|
|
|
Two to five years |
|
|
4,2 |
|
3,4 |
|
0,2 |
|
– |
|
|
|
More than five years |
|
|
– |
|
– |
|
– |
|
– |
|
|
|
Present value |
|
|
5,9 |
|
4,5 |
|
0,3 |
|
– |
|
